Bill > HB1868

This bill proposes to amend Mississippi Code Section 27-33-75 to increase the homestead exemption from ad valorem taxes, which are taxes based on the assessed value of property, for individuals who are 65 years of age or older or who are totally disabled. Specifically, it will raise the maximum assessed value of a homestead property that qualifies for this exemption from $7,500 to $14,000, effective for exemptions claimed in the 2027 calendar year and subsequent years. This change aims to provide greater property tax relief to these specific groups of homeowners.